Chunghwa Post finalizes fund managers

Naming Citi its custodian, the $113 billion Taiwanese institution prepares for its first investment outsourcing.

Chunghwa Post, Taiwan's postal savings and insurance institution with NT$3.6 trillion $113.2 billion of assets under management, plans to choose five external fund management companies to outsource a total of $500 million in global investment mandates, says Yen Yung-an, director of capital operations.

The organization has just appointed Citibank as its first global custodian until now, offshore investments were handled through trustee accounts with Chinatrust Commercial Bank and the Central Trust of China.


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